July 2013

'News' Settlement houses in repo collateral deal - FT.com 15 July 2013 | Bill Hodgson

I went looking for the source of this story on the FT below, as Philip doesn't really explain anything clearly and most of the article is background.

'News' USD IRSwap Client Clearing, CME or LCH? 15 July 2013 | Amir Khwaja

Following on from my article of June 25th, Mandatory Clearing, June 10, Week Two and CME or LCH, I wanted to update the figures with more rec

'News' OIS Discounting Still Causing Headaches 12 July 2013 | Ben Larah

A recent article in Risk Magazine states that insurance companies are struggling to move to OIS discounting for the

'News' U.S. Basel III Final Rule: Standardised Risk Weights Tool | Davis Polk 12 July 2013 | Bill Hodgson

DP have made a tool in which you can click on various types of exposure and see the underlying capital calculations relating. It includes the rules in the existing Basle 1 approach and the new Basle III approach.

'News' Interim Financial Results for LSE / LCH | Cleared Notionals & Revenue 12 July 2013 | Bill Hodgson

A tiny PDF popped out on the LCH website which useful shows the revenue and notionals for the various LCH clearing businesses.

'News' LCH.Clearnet to Clear Credit Default Swaps for US Clearing Members 12 July 2013 | Bill Hodgson

LCH now able to offer IRS, FX NDFs and CDS in North America.

'News' Report on Large OTC Derivatives End-Users on Clearing and Collateral | Finadium 12 July 2013 | Maria Leontiou

Finadium has published a new report in which it presents the results of a new survey of large end-users in the OTC derivatives clearing and collateral market.

'News' Banca d’Italia paper looks at factors behind RWA calculations, why they differ so much | Securities Finance Monitor 12 July 2013 | Bill Hodgson

An interesting paper spotted by SFM, with their summary, a link to the original paper and further background. It needs time to read but worth it.

'News' Markit: Plumbers in suits | The Economist 07 July 2013 | Bill Hodgson

A brief profile of Markit and it's history. Markit: Plumbers in suits | The Economist.  

'News' EMIR Reporting Start Date Now 1st Jan 2014 05 July 2013 | Bill Hodgson

The authorisation date for European Trade Repositories has moved, and therefore pushed the start date for all asset classes to Jan 1st 2014, just when the hangovers are worst.

'News' Foxeye the front office experts | Not any more 04 July 2013 | Bill Hodgson

It appears the company is now out of business, here A shame for the employees. Bill.

'News' CVA and CDS | Proxy Problems 04 July 2013 | Ben Larah

As CDS contracts continue to be perceived as the 'bad guys' in global finance, regulators are limiting their availability to be used as hedging tools, even when it's perfectly OK to use derivatives from other asset classes for a similar purpose.

'News' Margin Rules for Non-Cleared Derivatives to be Finalised in July 03 July 2013 | Bill Hodgson

Sometime this month we'll find out exactly how killed the non-cleared OTC market might be, with the new margin rules.

'News' Financial Transaction Tax: wide scope and attention to pension funds and SMEs 03 July 2013 | Bill Hodgson

With a twist of the knife the EU parliament has added salt to the wound: any firm not paying the FTT will be legally not-entitled to 'own' the receipt of any securities, therefore making the trade null and void.

'News' Cost of Clearing | View the Webinar 02 July 2013 | Ben Larah

To those of you who weren't able to make it to the Cost of Clearing webinar I hosted last Tuesday, a link to the video and audio presentation is available

'News' Dealers ask Esma to bless Lsoc-based clearing - Risk.net 02 July 2013 | Bill Hodgson

Tom Osborn at Risk covers the continued push by dealers to open the door to an ISA model which allows for a single collateral account (rather than one per ISA), keeping operations simpler and cheaper for the Clearing Members, and ultimately the Cl

'News' End of a 30 year era | LIFFE switch over complete 01 July 2013 | Bill Hodgson

The futures business at LIFFE has now switched from LCH to ICE over the weekend, bringing to a close a 30 year relationship. At the same time a new chapter opens with the NLX business aiming to capture exchange business to be cleared at LCH.

'News' ISDA 2013 EMIR Portfolio Reconciliation, Dispute Resolution and Disclosure Protocol | ISDA 01 July 2013 | Maria Leontiou

On 25th June 2013, ISDA has sent its members the pre-publication draft of the ISDA 2013 EMIR Portfolio Reconciliation, Dispute Resolution and Disclosure Protocol, asking them to provide their comments by Tuesday, 9 July.